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This past monday my dad went into his account and discovered there was a $800k debit from his check/savings account. Immediately he called BOFA and they are investigating but meanwhile he has no access to no funds. My mom's account is the same way. BOFA stated it'll take 7-10 days for them to investigate and determine how much money was actually in teh account before they can send out a check for that amount. The mortgage, car payments, bills due on the 1st were not paid. I know payday loans are no a good idea but would it be a good idea in this case so they can pay the bills/mortage??? I don't have the money right nwo to lend them.




This is really very sad. I am so sorry to hear this. On the other side, mortgage payments are very important. Ask your parents to call the lenders immediately and explain the situation. They will possibly do some adjustments for them. If they ask for proof, show them copies of your communication with BOFA.

Keep checking with BOFA regarding the suspicious debit. They should be able to track it. It will be good to file a police complaint and put a fraud alert with the bureaus. Your parent's bank info does not seem to be safe anymore. Check their credit copies for any suspicious accounts. If you find something suspicious, they will investigate for the person stealing your parent's identity.

Sub: #1 posted on Fri, 02/02/2007 - 12:25

Johnson4485 Johnson4485

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Excellent advice, Johnson. With most major banks like BofA, they should have a fraud department that your parents are dealing with and they will provide written communication to any creditors that your parents would like them to. It might convince a lender to waive a late fee or two, so I would suggest they do this.
Do NOT under any circumstances take out a PDL!! Speaking from personal experience, they look very tempting, but they will gradually suck you in, so you keep paying one off and don't get close to paying it off. And then, you have to take out a second one, and then a third one and well, you see where I am going. BAD IDEA!!! Again, BAD IDEA!!!!!

Sub: #2 posted on Fri, 02/02/2007 - 21:44

kscornell kscornell
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Please don't let your parents take out a PDL. This will only make a bad situation worse. If it will only take the bank 7-10 days to investigate, see if your parents can talk to their creditors about an extension of time to pay the bill this one time. If they haven't been habitually late paying their bills, the creditors will probably be pretty easy to work with.

Sub: #3 posted on Sat, 02/03/2007 - 03:16

SUEBEEHONEY70 SUEBEEHONEY70
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I echo the same sentiments as above. If your parents take out a PDL they are setting themselves up for future problems and could possibly even lead to more problems with unauthorized debits. Tell your parents to call BOA at least every other day until it is resolved. Tell them to talk to their creditors. Can they get any type of short term loan from friends or family?

Sub: #4 posted on Mon, 02/05/2007 - 12:55

Lorri Lorri
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